Chelsea pay Uefa £8.6m as ‘incomplete financial reporting’ sanction

Chelsea have agreed a settlement with Uefa and will pay €10m (around £8.6m) for “submitting incomplete financial information”.

The breach occurred when the club was still under the ownership of Roman Abramovich.

Uefa said in a statement that the issue was related to the period 2012 to 2019.

The governing body’s statement added: “Following its assessment, including the applicable statute of limitations, the CFCB (Club Financial Control Body) First Chamber entered into a settlement agreement with the club, which has agreed to pay a financial contribution of 10m euros to fully resolve the reported matters.”

A statement issued by Chelsea read: “Chelsea FC’s ownership group completed its purchase of the club on 30 May 2022.

“During a thorough due diligence process prior to completion of the purchase, the ownership group became aware of potentially incomplete financial reporting concerning historical transactions during the club’s previous ownership.

“Immediately following the completion of the purchase, Chelsea self-reported these matters to Uefa.

“Chelsea has fully cooperated and assisted Uefa with its investigation of these matters and, following an analysis by the Uefa Club Financial Control Body, the club has entered into a settlement agreement with Uefa. Under that settlement the club is to pay a financial contribution of €10 million to Uefa as a fixed payment.

“In accordance with the club’s ownership group’s core principles of full compliance and transparency with its regulators, we are grateful that this case has been concluded by proactive disclosure of information to Uefa and a settlement that fully resolves the reported matters.

“We wish to place on record our gratitude to Uefa for its consideration of this matter. Chelsea greatly values its relationship with Uefa and looks forward to building on that relationship in the years to come.”